CHM Champion Minerals Inc.

CHAMPION MINERALS INC. (TSX VENTURE:CHM)(FRANKFURT:P02) ("Champion" or the
"Company") is pleased to announce the resumption of diamond drilling on the
Fermont Iron Property (the "Property") at the prospective Harvey-Tuttle Claim
Block ("Harvey-Tuttle") in the Fermont Iron Ore District of northeastern Quebec.


Harvey-Tuttle Diamond Drilling Campaign

The planned footage for the current campaign is estimated at 7,000 meters in 31
holes. Drilling commenced mid-June with 1,110 meters in 5 holes completed to
date on the Turtleback Mountain target. The program follows an initial campaign
of 12 holes totaling 3,013 meters completed earlier this year.


Two drills are turning at Harvey-Tuttle to follow up on the previously announced
discovery hole HT10-07 that intersected 234 meters of 26.7% Total Iron,
including a higher grade interval of 109.2 meters of 34% Total Iron. The
Turtleback Mountain target is a 100 meters high crescent shaped hill covering an
area 2.5 kilometers long by 1.6 kilometers wide. The magnetic signature of the
iron formation and the interpreted geology infer the structure is a kilometric
scale re-folded iron formation. The refolding results in a structural thickening
of the iron formation horizon commonly demonstrated at Fermont-Labrador iron
mines.


Champion will be testing an additional 6 targets on the Harvey-Tuttle Claim
Block ("NW Extension", "Western Fold", "South Hinge", "NW Harvey", "South
Tuttle" and "Figure 8"). The "Figure 8" target is also a re-folded synform with
a figure-8 shaped magnetic signature approximately 2 kilometers long and 2
kilometers wide. This pattern is created by the two major phases of folding and
is one of the main variables that contribute to building volume and creating
basin shaped geometry optimal for open pit mining methods.


Regional Exploration on the Clusters 2 and 3 Claim Blocks

Champion continues to explore the Cluster 2 claim blocks with the objective of
outlining several 200 million tonne to 500 million tonne lenses within 25
kilometers of the road-rail infrastructure and ArcelorMittal's Fire Lake Mine
(341 million tonnes grading 33.4% Iron), a seasonal operation that supplies ore
to the Mont Wright Mine and Concentrator Complex located approximately 50 km to
the north (www.arcelormittal.com; MRNFQ Files).


A review and evaluation of the available historic geological data for the
Property is ongoing. The objective is to provide a compilation of the historic
work performed on the 11 other claim blocks that comprise the Property,
validating the historical work and proposing new exploration work that will
potentially delineate, or increase the historical resources, into current and
compliant mineral resources. The claim blocks include Casse Lake, Hope Lake,
Hope Lake SW, Lamelee South, Midway SE, Oil Can Lake, O'Keefe-Purdy-Audrea Lakes
from Cluster 2, and Aubertin-Tougard Lakes, Audrey-Ernie Lakes, Big Three Lakes
and Silicate-Brutus Lakes from Cluster 3. The compilation work should be
completed in Q3-2010.


Careful evaluation of the compiled data suggests that the targeted iron
formations within the claim blocks constitute significant potential iron mineral
resources that warrant rigorous evaluation and exploration programs. The
recommended exploration going forward will focus on volumetrically-significant,
tectonically-thickened, synclinal-hinge areas cored by iron formations. The
programs will include detailed geological mapping of target areas and systematic
drilling and sampling of the iron formations. The iron formations were outlined
by Champion's 2008 airborne geophysical survey. New targets of interest in
Cluster 2 are being outlined on the O'Keefe-Purdy Claim Block.


Champion is planning an airborne gravity survey, which will better define larger
masses of hematite-rich iron formation targets.


Metallurgical Work on Bellechasse and Fire Lake North

BBA Inc. ("BBA") of Montreal (Quebec) is currently reviewing the preliminary
metallurgical testing completed by COREM of Quebec City (Quebec) from drill core
of the 2009 campaign at Fire Lake North and Bellechasse as part of two
preliminary assessment studies. COREM completed mineralogy, and Wilfley Table
(gravity separation) and SATMAGAN (magnetic separation) tests on composite
samples for orientation mineralogy and metallurgy. Five Fire Lake North
composite samples showed Total Iron content ("FeT") varying from 25.4% to 39.0%.
The composites contain varying amounts of both hematite and magnetite, and show
a high FeT recovery ranging from 83.6% to 89.2%. The Bellechasse composites
contain FeT varying from 31.3% to 33.8%. The magnetite content is high with
SATMAGAN values varying from 27.1% to 35.7%. A more detailed analysis is being
completed by BBA with their significant experience and expertise in the Fermont
Iron Ore District.


Champion will be launching the second round of metallurgical testing soon on
drill core from the winter 2010 diamond drill program from Fire Lake North and
Harvey-Tuttle.


The Fermont Iron Property Joint Venture Exploration Program

Champion will undertake a comprehensive exploration and development program at
the Fermont Property during the next 12 months. At Harvey-Tuttle, the current
diamond drilling campaign (7,000 m) will be completed followed by geological
modeling, metallurgical test work and mineral resource estimation while other
Cluster 2 claim blocks will be evaluated for potential iron mineral resources
with prospecting/assaying, diamond drilling (2,500 meters) and initial
orientation metallurgical tests.


Preliminary assessment studies have been initiated on each of the Bellechasse,
Fire Lake North and the Harvey-Tuttle claim blocks that will provide guidelines
for definition diamond drilling, bulk sampling, advanced metallurgy, road
construction, costing and financial analysis required for the planned
feasibility studies for each of these projects. As these studies progress, other
Cluster 2 claim blocks will be diamond drilled (10,000 meters) and scoping
studies initiated.


The Fermont Iron Property

Champion previously announced an initial Mineral Resources Estimate ("MRE") on
the Bellechasse and Fire Lake North Claim Blocks ("Bellechasse" and "Fire Lake
North") under NI 43-101 guidelines (refer to the Company news release dated
November 19, 2009). The MRE totals 503.3 million tonnes grading 28.0% Iron in
the Inferred Mineral Resources category. Bellechasse hosts 215.1 million tonnes
grading 28.7% Iron; whereas Fire Lake North hosts 288.2 million tonnes grading
27.5% Iron (all at a 15% Iron cut-off grade). Inferred Mineral Resources are
that part of a Mineral Resource for which quantity and grade or quality can be
estimated on the basis of geological evidence and limited sampling gathered
through appropriate techniques from drill holes and outcrops, and reasonably
assumed, but not verified, geological and grade continuity. There has been
insufficient exploration to define any of the resources as Indicated or Measured
Mineral Resources and there is no guarantee that further exploration will
upgrade the Inferred Mineral Resources to Indicated or Measured Mineral
Resources.


Champion now has an 82.5% direct interest in the 384.6 km2 Property consisting
of 16 strategic claim blocks grouped into three clusters, termed Clusters 1, 2
and 3. Champion previously announced 8 claim blocks with historical Mineral
Resources of 694 million tonnes grading 30.4% Iron, but now after 2 of the 8
claim blocks (Bellechasse and Fire Lake North) host a current MRE, there are 6
remaining claim blocks that host historical Mineral Resources of 578 million
tonnes grading 30.4% Iron (Paquet, 1963; Ministere des ressources naturelles et
de la faune Quebec Assessment File GM 13035). The Mineral Resources are strictly
historical in nature and are non-compliant to NI 43-101 Mineral Resources and
Mineral Reserves standards, and should therefore not be relied upon. A Qualified
Person has not done sufficient work to upgrade or classify these historical
Mineral Resources as current NI 43-101 compliant.


Champion and Fancamp Exploration Ltd. ("Fancamp") (TSX VENTURE:FNC) are
currently in a 82.5% / 17.5% joint venture on the Property. Champion earned an
initial 65% interest in all 16 claim blocks within the Property by expending $C6
million in exploration expenditures, making cash payments totalling C$1 million,
and issuing 2.9 million shares. Champion acquired a further 17.5% from The
Sheridan Platinum Group ("Sheridan") (refer to the Company news release dated
June 28, 2010). Under the terms of the latest agreement, Champion has agreed to
issue 4 million shares from treasury to Sheridan on closing and to pay C$2
million in cash (C$1 million of which is payable on closing, plus two further
payments of C$500,000 each, payable 12 months and 18 months after closing). This
agreement is subject to regulatory approval and other conditions usual to
transactions of this nature. Both Fancamp and Sheridan still retain a 3% Net
Smelter Returns royalty, which may be reduced to 2% by paying C$3 million. The
agreement also includes a right of first refusal on the Lamelee Lake Claim
Block.


About Champion Minerals Inc.

Champion is an exploration Company focused on discovering and developing
significant metal resources in eastern Canada, particularly in the provinces of
Quebec and Newfoundland & Labrador. The Company's projects include the
Attikamagen Iron Property in northeastern Quebec and western Labrador, the
Fermont Iron Property in northeastern Quebec, and the Powderhorn/Gullbridge Base
Metal Projects in central Newfoundland. Please visit Champion's website at
www.championminerals.com.


The technical information in this news release was prepared, revised and
approved by Jeff Hussey, P. Geo., VP Exploration of the Company and Jean
Lafleur, P. Geo., Director and Technical Advisor to the President and CEO of
Champion. Both individuals are Qualified Persons under NI 43-101 standards.


The statements made in this news release that are not historical facts are
"forward-looking statements" and readers are cautioned that any such statements
are not guarantees of future performance, and that actual developments or
results, may vary materially from those in these "forward-looking" statements.

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